Starting college brings new opportunities, new responsibilities, and unfortunately, new risks. Between searching for housing, applying for financial aid, looking for jobs, and managing money on their own for the first time, college students can become attractive targets for scammers. Criminals often focus on situations where people are making important decisions quickly or sharing personal information online.
The good news is that most scams follow predictable patterns. Learning how to spot red flags and protect personal information can go a long way toward preventing fraud.
During a recent KWLM Ask the Expert interview, Heritage Bank Market President Dave Henle shared practical advice on fraud prevention, identity theft, financial safety, and protecting personal information. His message was simple: awareness matters.
Listen to the Ask the Expert Conversation
Before diving into the article, listen to Heritage Bank Market President Dave Henle discuss identity theft, scam prevention, online safety, and fraud awareness for students and families during a recent Ask the Expert segment on KWLM.
Why College Students Are Frequently Targeted
College students are often navigating major financial decisions for the first time. They may be:
- Applying for financial aid
- Looking for off-campus housing
- Searching for part-time jobs
- Opening financial accounts
- Using digital payment apps
- Sharing personal information online
Scammers know this and frequently tailor schemes specifically toward students. As Henle pointed out, fraud attempts are incredibly common and can affect anyone. “It’s not if you’re going to get scammed, it’s probably when.”
That doesn’t mean fraud is unavoidable. It means awareness and preparation are important.
Financial Aid Scams
Financial aid scams often appear during the college application process or shortly before a semester begins. Students may receive phishing messages claiming they qualify for:
- Special grants
- Additional aid
- Tuition assistance
- Loan forgiveness opportunities
The scammer’s goal is often to collect personal information, payment details, or upfront fees. Henle identified financial aid scams as one of the common types of fraud students may encounter.
Before sharing information, verify communications directly through your school or the official organization involved.
Scholarship Scams
Scholarship opportunities can help reduce education expenses, which is why scammers frequently use them as bait. Warning signs may include:
- Guaranteed awards
- Requests for payment to apply
- Pressure to act immediately
- Requests for sensitive personal information
If something sounds too good to be true, take a step back and verify the source before moving forward. Henle specifically identified scholarship scams as another common concern for college-bound students.
Fake Job Offer Scams
Many students look for part-time employment during college. Unfortunately, scammers know this. Fraudulent job opportunities may:
- Promise of unusually high pay
- Require upfront payments
- Ask for banking information immediately
- Request Social Security numbers before formal hiring steps
Henle noted that fake job offers are frequently used to target young adults entering college and the workforce. Always research the employer and verify opportunities through legitimate channels.
Housing and Rental Scams
Finding an apartment or off-campus housing can be stressful, especially when demand is high. Scammers may create fake listings that include:
- Exceptionally low rent
- Requests for deposits before touring
- Missing property details
- Pressure to send money quickly
Henle identified housing scams as another common threat for students. If possible, view properties in person and verify ownership before making payments.
Protecting Your Personal Information
One of the simplest ways to reduce fraud risk is protecting sensitive information. According to Henle, students should be especially careful with:
- Social Security numbers
- Online banking credentials
- Passwords
- Account numbers
- Financial login information
Sharing these details casually, even with friends or roommates, can create unnecessary risks.
Public Wi-Fi and Online Security
Coffee shops, libraries, airports, and campus buildings often offer public Wi-Fi. While convenient, public networks can present security risks, especially when accessing financial information online.
Henle recommends exercising caution when viewing banking information or conducting financial activity on public Wi-Fi. Whenever possible:
- Use secure networks
- Log out of financial accounts when finished
- Keep devices updated
- Use strong passwords
Scam Red Flags That Apply to Almost Every Fraud Attempt
Examples:
- Urgency
- Fear tactics
- Requests for personal information
- Requests for payment
- Too-good-to-be-true promises
Whether you’re buying textbooks, electronics, or dorm essentials, it’s important to stay alert for fraudulent websites and fake offers. Learn more in our article How to Avoid Scams While Shopping Online.
Warning Signs of Identity Theft
Identity theft can happen gradually, making it difficult to spot immediately. Henle recommends paying attention to:
- Unfamiliar accounts
- Unexpected bills
- Collection notices
- Denied credit applications
- Transactions you don’t recognize
Regularly reviewing account activity and credit information can help identify potential problems early.
What Is a Credit Freeze?
A credit freeze can help prevent someone from opening new accounts using stolen personal information. Henle explained that when credit is frozen, lenders cannot access the credit report required to process new applications. If you need to apply for credit later, the freeze can be lifted temporarily.
While a credit freeze may not be necessary for everyone, it can be an important tool in certain fraud situations.
What to Do If You Think You’ve Been Scammed
Even careful people can become victims of fraud. If something doesn’t seem right, acting quickly may help limit damage. Henle recommends taking these steps:
1. Contact the affected financial institution – Reach out immediately if you suspect unauthorized activity or account access.
2. Change passwords – If you’ve clicked a suspicious link or shared login credentials, change your password immediately.
3. Monitor accounts closely – Review recent transactions and continue monitoring activity regularly.
4. Consider a fraud alert or credit freeze – If personal information may have been compromised, additional protective measures may be appropriate.
A Little Awareness Goes a Long Way
Scammers are constantly looking for opportunities, but most rely on the same tactics: urgency, pressure, fear, and promises that seem too good to be true. Learning to slow down, verify information, and protect personal data can help students avoid many common scams.
Dave Henle’s advice is simple: be careful, stay aware, and don’t ignore warning signs. Those habits can help protect both your personal information and your financial future.
Frequently Asked Questions About College Scams
According to Dave Henle, common scams include financial aid, scholarship, fake job offers, and housing scams.
Students should be cautious about sharing Social Security numbers, passwords, online banking credentials, account numbers, and other sensitive financial information.
Warning signs may include requests for money, unusual urgency, unrealistic pay promises, or requests for sensitive information early in the hiring process. These are common scam indicators discussed in the article.
Henle recommends being cautious when accessing financial accounts on public Wi-Fi networks.
Unfamiliar accounts, unexpected bills, collection notices, denied credit applications, and unauthorized transactions can all be warning signs.
Contact the affected financial institution immediately, change passwords, monitor your accounts, and consider additional protections such as fraud alerts or a credit freeze.
Have Questions About Protecting Your Finances?
Whether you’re heading to college or helping a student prepare for the year ahead, understanding common scams can help you make safer financial decisions.
The Heritage Bank team is here to answer questions and provide educational resources that can help you protect your personal and financial information.
Helping People Succeed Financially. We see every customer as an individual and treat our customers’ businesses as our own. Our dedicated, experienced staff is there for our customers on every step of their journey.
